You learn so much from spending time with fellow accounting buddies. When chatting with Esther Friedberg Karp, she mentioned this new Categorization History feature inside Bank feeds in QuickBooks Online.
Now we can see our “most used” and “last used” coded accounts.
Immersing yourself in the history means when you categorize it, you have awareness how transactions like it have been used in the past make the proper selection when you code the new one from your bank feeds.
Check out the video HERE and read below to see how you can access this feature.
Accessing the Categorization History
When you log into QuickBooks Online, go to your banking center. There, select the transaction in question. Once you have selected it, there now is a blue hyperlink that will take you to the categorization history.
Feature in Action
Once in the Categorization history, you have a dropdown that will let you sort by most used or last used, which is a very helpful way to narrow down your search quickly.
When clicking on the details, it will show you the last 12 months of categorization history for that vendor.
If you want to use the same category as what has been used in the past, you can select that category and click “Assign Category” at the bottom. I recommend creating a bank rule while viewing transaction history.
And just like that, you can see what has been done in the past with similar transactions without having to go investigate. I love learning these easy fast hacks to help make bookkeeping easier.
Liz Scott is a multi-business entrepreneur working to bring together technology and accountants through her business, Liz Scott Consulting. A member of Intuit Trainer/Writer Network, she authored and taught Master level courses, including Advisory Guides and Consulting Tools for Accountants. In addition to Liz Scott Consulting, she also owns Accounting Lifeline, a firm to serve small businesses with their financial needs. Liz is a co-host of the “Appy Hour,” which helps other accountants learn about the different tools and apps for small business needs. Holding a high passion for real estate investment, she owns properties throughout Oklahoma.
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